Ultra Clean (NASDAQ:UCTT) Reaches New 1-Year High at $50.71

Shares of Ultra Clean Holdings, Inc. (NASDAQ:UCTT) hit a new 52-week high during trading on Tuesday . The stock traded as high as $50.71 and last traded at $50.41, with a volume of 46415 shares traded. The stock had previously closed at $50.19.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on UCTT. TD Cowen increased their target price on shares of Ultra Clean from $47.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Needham & Company LLC raised their target price on shares of Ultra Clean from $50.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $57.00.

Ultra Clean Stock Performance

The firm’s 50 day moving average price is $45.42 and its 200-day moving average price is $42.07. The company has a quick ratio of 1.58, a current ratio of 2.76 and a debt-to-equity ratio of 0.52.

Ultra Clean (NASDAQ:UCTT) last posted its quarterly earnings results on Monday, May 6th. The semiconductor company reported $0.20 earnings per share for the quarter. Ultra Clean had a positive return on equity of 2.19% and a negative net margin of 2.09%. The firm had revenue of $477.70 million during the quarter, compared to analysts’ expectations of $455.00 million.

Insider Activity

In other news, CAO Brian E. Harding sold 11,000 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $43.89, for a total transaction of $482,790.00. Following the completion of the transaction, the chief accounting officer now directly owns 37,415 shares of the company’s stock, valued at $1,642,144.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Ultra Clean news, CFO Sheri Savage sold 15,319 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $46.00, for a total transaction of $704,674.00. Following the completion of the sale, the chief financial officer now directly owns 75,044 shares in the company, valued at approximately $3,452,024. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Brian E. Harding sold 11,000 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $43.89, for a total transaction of $482,790.00. Following the sale, the chief accounting officer now owns 37,415 shares of the company’s stock, valued at $1,642,144.35. The disclosure for this sale can be found here. Insiders have sold a total of 63,048 shares of company stock valued at $2,813,361 in the last 90 days. 2.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ultra Clean

A number of hedge funds have recently modified their holdings of the business. Frontier Capital Management Co. LLC lifted its position in shares of Ultra Clean by 37.5% in the fourth quarter. Frontier Capital Management Co. LLC now owns 2,559,943 shares of the semiconductor company’s stock worth $87,396,000 after buying an additional 698,242 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Ultra Clean by 4.7% in the third quarter. Vanguard Group Inc. now owns 4,211,736 shares of the semiconductor company’s stock worth $124,962,000 after buying an additional 190,942 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Ultra Clean by 4.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,343 shares of the semiconductor company’s stock worth $695,000 after buying an additional 930 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of Ultra Clean in the third quarter worth about $1,871,000. Finally, Assenagon Asset Management S.A. lifted its position in shares of Ultra Clean by 25.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 121,526 shares of the semiconductor company’s stock worth $4,149,000 after buying an additional 24,670 shares in the last quarter. Institutional investors own 96.06% of the company’s stock.

About Ultra Clean

Ultra Clean Holdings, Inc develops and supplies critical subsystems, components and parts, and ultra-high purity cleaning and analytical services for the semiconductor industry in the United States and internationally. The company provides ultra-clean valves, high purity connectors, industrial process connectors and valves, pneumatic actuators, manifolds and safety solutions, hoses, pressure gauges, and gas line and component heaters; chemical delivery modules that deliver gases and reactive chemicals in a liquid or gaseous form from a centralized subsystem to the reaction chamber; and gas delivery systems, such as weldments, filters, mass flow controllers, regulators, pressure transducers and valves, component heaters, and an integrated electronic and/or pneumatic control system.